Initial Europe June toluene contracts agreed at $1,195-1,200/tonne

LONDON (ICIS)--Initial June European toluene contracts were agreed at $1,195-1,200/tonne (€968-972/tonne), down $25-30/tonne from the previous month, one consumer said on Friday.

The buyer confirmed it had settled June contracts at $1,195/tonne and $1,200/tonne with several of its suppliers, essentially in line with where the spot market had last been active, although the continued bearishness of crude and energy numbers added some downward pressure.

June spot deals for toluene were reported last week at $1,200/tonne and $1,205/tonne.

The consumer involved in these initial settlements and another seller had heard reports of a June contract settling as high as $1,220/tonne this week, but this was so far unconfirmed.